morning thoughts...
We intimated about wild swings on monetary policy and same occured in last hour of trading hour , now the coming session will be more volatile and we would like to concentrate mostly on specific stocks as index is now in a wild zone and will swing like a pendulum.
We have no positions in index now and will now wait for a signal , moreover many stocks are in vicinity of small breakouts and we would like to concentrate on them for short term
Some of them are itc , axis bank , igl ,sbi , bhel and dabur , we are posting the charts of the same for proper illustration and study
ITC - it has done good consolidation at 280-290 zones and is a breakout above 300 levels with sustained supports at 297-295
A move of 20-25 rs is not ruled out in the coming sessions pertaining to index
Axis bank - a private bank after making continous bottoms and lower highs is sustaining above 538-540 zones which also acts as supports , above 548 a small breakout is likely for 20- rs move to attempt 600
We intimated about wild swings on monetary policy and same occured in last hour of trading hour , now the coming session will be more volatile and we would like to concentrate mostly on specific stocks as index is now in a wild zone and will swing like a pendulum.
We have no positions in index now and will now wait for a signal , moreover many stocks are in vicinity of small breakouts and we would like to concentrate on them for short term
Some of them are itc , axis bank , igl ,sbi , bhel and dabur , we are posting the charts of the same for proper illustration and study
ITC - it has done good consolidation at 280-290 zones and is a breakout above 300 levels with sustained supports at 297-295
A move of 20-25 rs is not ruled out in the coming sessions pertaining to index
Bhel - it has seen good accumulation around 70 zones and now its acting as supports with minor resistance at 75 - above which 80-85 is achievable - as indicated on charts
Sbi - a strong psu chart which after long time consolidation is trying to break above 300 , a sustained move above 300 will see minor resistance at 305 - above it 15-20 rs move can be witnessed pertaining to index
Axis bank - a private bank after making continous bottoms and lower highs is sustaining above 538-540 zones which also acts as supports , above 548 a small breakout is likely for 20- rs move to attempt 600
Igl - a classic multiple bottom and on verge of a sustained breakout above 315 which is a major resistance for the stock , if manages to break above 321 then a sharp move is likely , previously those zones have acted as false breakouts
We have no positions in index now and we will take mega advance positions in nifty and bank nifty very soon
We have positions in sbi 310 ca , dabur 440 ca , dabur 450 ca (booked) , itc 310 ca
We are likely to take more positions accordingly and in above stocks as per index and levels mentioned , we may book out earlier pertaining to index or false breakout on charts whenever indicated
